Executive Order 9: Oil and gas revenues must serve Nigerians first — Tinubu says
President Bola Tinubu says his newly signed Executive Order on safeguarding oil and gas revenues is aimed at ensuring that the nation’s resources serve Nigerians first, describing the reform as one rooted in fairness and fiscal responsibility.
The directive, officially titled Presidential Executive Order to Safeguard Federation Oil and Gas Revenues and Provide Regulatory Clarity, 2026, was signed on February 13 and has now been gazetted.
According to the President, the reform is designed to eliminate excessive deductions, overlapping funds, and structural distortions that have weakened revenue flows to federal, state, and local governments.
“For too long, revenues meant for the Federation Account have been trapped in layers of charges and retention mechanisms. Development suffers when this happens. That must end,” Tinubu said.
Under the new order, all Royalty Oil, Tax Oil, Profit Oil, Profit Gas, and other government entitlements under Production Sharing and related contracts will now be paid directly into the Federation Account.
The administration has also scrapped the additional 30 per cent management fee and the 30 per cent Frontier Exploration deduction, measures the President described as impediments to full national revenue realization.
The reform seeks to promote transparency, accountability, and constitutional compliance in the management of oil and gas proceeds.
Tinubu stated that NNPC Limited will operate strictly as a commercial enterprise, in line with the law, signaling an end to what he described as duplicative deductions and fragmented oversight.
